, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 5 - Cabinet Secretary for Economy, Energy and Welsh Language
So, it's wholly independent of Government.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 5 - Cabinet Secretary for Economy, Energy and Welsh Language
Thank you very much indeed for those introductions. Perhaps I can just kick off the session with a few questions. Of course, your department is responsible for the Development Bank of Wales. Perhaps you could tell us what your relationship is with the bank…
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 5 - Cabinet Secretary for Economy, Energy and Welsh Language
Welcome back to this meeting of the Economy, Trade and Rural Affairs Committee. We'll move on now to item 4 on our agenda, our inquiry into the Development Bank of Wales. This is the final evidence session for our inquiry, and this is also the first time that…
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you very much for that. I'm afraid time has beaten us, so our session has come to an end, but thank you very much for being with us today. Your evidence will be very important for our inquiry. A copy of today's transcript will be sent to you in due…
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you, Jenny. Can I just very quickly come back to the issue of appointing investor directors? Can you just very, very briefly explain to us how are those people chosen and who decides on their remuneration?
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
I'll now bring in Jenny Rathbone. Jenny.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you, Hefin. I'll now bring back Luke Fletcher. Luke.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thanks, Sam. I'm very conscious of time, so if you could keep your answers pretty succinct, we've got a lot to get through. I'll now bring in Hefin David. Hefin.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you, Vikki. I'll now bring in Samuel Kurtz. Sam.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you. I'll now bring in Vikki Howells. Vikki.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you, Luke. Before I bring in Vikki Howells, Jenny Rathbone would like to come in very quickly.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you, Hefin. I'll now bring in Luke Fletcher. Luke.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you. I'll now bring in Hefin David. Hefin.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Okay. I've got a number of Members who'd like to come in on this. First, Samuel Kurtz, and then, Hefin David. Samuel Kurtz.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Okay, thank you for that. I know Jenny Rathbone would like to come in on this. Jenny.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Yes, by all means.
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
But isn't that really a lender of last resort? If no other commercial bank will actually provide a loan to a business, then surely you're a lender of last resort, are you not?
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you for that response. Now, I'm sure you can understand that there will be people across Wales who are concerned that a company received a £400,000 loan and then, seemingly, had enough money to provide political donations. Now, my understanding is that…
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Thank you very much indeed for those introductions, and perhaps I can just kick off this session with a couple of questions. Now, of course, as a bank you are wholly owned by the Welsh Government. In light of the recent news reports around political donations…
, Economy, Trade, and Rural Affairs Committee
Development Bank of Wales inquiry: Panel 4 - Development Bank of Wales
Then we'll move on to item 3, which is our inquiry into the Development Bank of Wales, and our evidence sessions today close the formal process of gathering evidence for this inquiry. For this penultimate session, it's a pleasure to welcome the…
, Economy, Trade, and Rural Affairs Committee
Papers to note
We'll then move on to item 2, papers to note. There are a number of papers to note. Any issues that Members would like to raise from these papers at all? No.
, Economy, Trade, and Rural Affairs Committee
Introductions, apologies, substitutions, and declarations of interest
Welcome, everyone, to this meeting of the Senedd's Economy, Trade and Rural Affairs Committee. The first thing for me to say is that the membership of our committee has changed. I'd like to congratulate Buffy Williams on being elected as Chair of the…
, Plenary
Statement by the Cabinet Secretary for Economy, Energy and Welsh Language: Our economic future
Can I also welcome the Cabinet Secretary to his new role? As Chair of the Economy, Trade and Rural Affairs Committee, I look forward to scrutinising him and his officials going forward. In fact, the Cabinet Secretary will be joining the committee tomorrow…
, Plenary
Business Statement and Announcement
Trefnydd, I'm getting up again in this Chamber to request an urgent statement on the situation at Withyhedge landfill site in my constituency. As has already been raised this afternoon, there are very serious concerns over the donation that the First Minister…
, Plenary
Debate on the Economy, Trade and Rural Affairs Committee Report, 'Nuclear energy and the Welsh economy'
Diolch, Dirprwy Lywydd, and can I thank Members for taking part in this debate this afternoon? We've heard some really interesting contributions from Members today, and a constructive response from the Cabinet Secretary. Now, Members have understandably…
